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Social Security Releases 2015 COLA and Benefit Amounts 10/22/2014

12-19-2014 |

Social Security benefits increase 1.7%, and the taxable Wage Base for 2015 is $118,500.

WASHINGTON – The Social Security Administration increased benefits by 1.7% for 2015. The maximum amount of earnings subject to the Social Security tax will increase from $117,000 to $118,500. Of the estimated 168 million workers who will pay Social Security taxes in 2015, about 10 million will pay higher taxes because of the increase in the taxable maximum.